Vacant Quadplex with Roof
For Sale
$1,299,999
549 Bennington St, Boston, MA 02128
Delivered vacant with off-street parking, private balconies, and active capital improvements.
Property Size4,351 SF
Days on Market8
Property Features for 549 Bennington St
General Information
Standard status
Active
Size
4,351 SF
Total Parking Spaces
4
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,158
Amenities
roof deck
private balconies
Building Details
Building Size
4,351 SF
Year Built
1899
Stories
4
Units
4
Listing Agency:
Cameron Prestige, LLC
(857) 265-1547
Listed By:
Kevin Alen
(857) 265-1547
Source:
Elliman
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 11 at 9:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cameron Prestige, LLC
Investment Insights
Based on property information with market context.
Built in 1899, this four-unit property at 549 Bennington St includes a 2-car garage and paved driveway serving 4 total off-street parking spaces. The building is delivered completely vacant, allowing immediate control of occupancy and unit leasing. Existing outdoor features include a roof deck and private balconies, while current capital work addresses roof repairs and reinforcement, interior painting, and pest remediation.
The property is in East Boston, less than half a mile from the beach. Transit access is reflected in a TransitScore of 61, with a WalkScore of 85 and BikeScore of 40. The combination of four residential units, on-site parking, outdoor space, and ongoing improvements creates a clearly defined multifamily asset with substantial operational flexibility.
The property is in East Boston, less than half a mile from the beach. Transit access is reflected in a TransitScore of 61, with a WalkScore of 85 and BikeScore of 40. The combination of four residential units, on-site parking, outdoor space, and ongoing improvements creates a clearly defined multifamily asset with substantial operational flexibility.
Key Highlights
- Four‑unit property built in 1899
- Delivered completely vacant
- 2‑car garage and paved driveway provide 4 total off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$109,947
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,198,940
$2.2M
Cap Rate 7%
$1,570,671
$1.6M
Cap Rate 9%
$1,221,633
$1.2M
Market Conditions
NOI Build-Up for 4,351 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$164.5K $37.80/SF
− Vacancy
−$7.4K −$1.70/SF
EGI
$157.1K $36.10/SF
− OpEx
−$47.1K −$10.83/SF
NOI
$109.9K $25.27/SF
Area
Boston, MA
Vacancy
4.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,198,940
Cap Rate 7%
$1,570,671
Cap Rate 9%
$1,221,633
Alternative Uses
Best Use
Multifamily LT 5
$1.57M
$1.37M – $1.83M
NOI $109,947 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,214 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$3.26M
$2.85M – $3.80M
NOI $228,062 @ 7.0% cap · market cap 17.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Explore this area
Business Placement
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Delivered vacant with off-street parking, private balconies, and active capital improvements.
Where is this quadplex located?
The property is located at 549 Bennington St Boston, MA.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: Four‑unit property built in 1899; Delivered completely vacant; 2‑car garage and paved driveway provide 4 total off‑street parking spaces
